Tag Archives: Infrastructure Maintenance Trust Fund

Gas-tax-hike piggy bank keeps growing fatter

April 30, 2021

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By RICK BRUNDRETT Through March, a special fund created with the state gas-tax-hike law had a cash balance of nearly $824 million and racked up more than $26 million in investment earnings on surpluses since July 2017, records show. The $823.8 million surplus in the “Infrastructure Maintenance Trust Fund” as of March 31 represented nearly […]

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Gas-tax-hike surplus expands by $250M in one year while road projects lag

March 3, 2021

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By RICK BRUNDRETT In just one year, the surplus from state gas-tax-hike revenues grew by more than a quarter of a billion dollars, or 50%, to $752 million as of Jan. 31, records show. The Nerve repeatedly has pointed out the growing reserve that the S.C. Department of Transportation has been sitting on since the […]

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Gas-tax-hike projects: Main contractors doing other SC jobs

September 30, 2020

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By RICK BRUNDRETT The slow pace of fixing South Carolina’s bad roads and bridges since the state gas tax was hiked more than three years ago could be tied in part to who’s doing the work and what other projects those companies are handling, records show. The 10 highest-paid road contractors with gas-tax-hike revenues from […]

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Will Year 2 of gas tax credit be as unpopular as the first?

March 13, 2020

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By RICK BRUNDRETT A state agency is again predicting that S.C. taxpayers will claim the maximum-allowed amount of income tax credits to offset the gas tax hike, though the first official estimate was way off the mark. For last year’s income tax filings, the S.C. Revenue and Fiscal Affairs (RFA) Office projected that a total […]

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SCDOT still sitting on huge gas-tax-hike surpluses; few major projects completed

November 20, 2019

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By RICK BRUNDRETT For the fiscal year that starts next July 1, the state Department of Transportation wants renewed authority to spend surplus money – at least that’s what the agency requested as part of its proposed 2020-21 budget. As of June 30 of this year, the department had $1 billion in “other” fund reserves, […]

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No bad bridges fixed under gas-tax-hike law, slow progress with other funds

June 12, 2019

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By RICK BRUNDRETT The state transportation department hasn’t replaced one bad bridge with gas-tax-hike revenues collected for nearly two years – despite promises by lawmakers that the money would be used to fix South Carolina’s crumbling roads and bridges. And the Department of Transportation has completed relatively few bridge projects in recent years with other […]

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No significant road projects completed in 26 S.C. counties, despite gas tax hike

May 3, 2019

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  By RICK BRUNDRETT Through March, the S.C. Department of Transportation had completed no road reconstruction or significant repaving projects in more than half of the state’s counties with revenues generated under the gas-tax-hike law that took effect nearly two years ago, newly released DOT records show. The balance in the state “Infrastructure Maintenance Trust […]

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Big chunk of gas-tax-hike money not going to major road, bridge repairs

January 25, 2019

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road construction ahead

By RICK BRUNDRETT Last June, S.C. Department of Transportation commissioner Robert “Robby” Robbins questioned agency head Christy Hall whether the worst roads in the state were being fixed. “I want a system-wide analysis of which roads are the worst, and I want money to go there first … and I don’t think we are doing […]

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Bill would divert gas-tax-hike money to interstate widening projects

December 20, 2018

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  By RICK BRUNDRETT A proposal by a longtime S.C. senator would siphon millions from a main source of gas-tax-hike revenues that lawmakers promised would go toward fixing the state’s crumbling roads and bridges, and instead earmark that money for widening interstates. It also could be a way around what the state transportation chief previously […]

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Pot of unspent gas-tax-hike revenues grows to nearly $361 million

December 3, 2018

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By RICK BRUNDRETT As of the end of October, nearly $361 million in collected gas-tax-hike revenues had not been spent – 16 months after the law authorizing the increases went into effect, recently released records show. The $360.9 million balance represented about 45 percent of the $802.2 million in “project commitments” identified by the state […]

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